Petrol prices in New Delhi have been turning more volatile, as prices of crude oil have been showing a firm trend. It is important to check todays petrol price in New Delhi ₹ 80.43 (12th July 2020), especially if you are going for a long drive. Remember, petrol and diesel prices are revised daily, so you can lose much, if you are travelling on a long distance. The rupee has also moved lower against the dollar, which has made petrol prices in New Delhi more expensive than before. It is hoped that the government can reduce excise duties, so as to enable rates to become more cheaper in the coming days.
|Jul 11, 2020||₹ 80.43||₹ 0.00|
|Jul 10, 2020||₹ 80.43||₹ 0.00|
|Jul 9, 2020||₹ 80.43||₹ 0.00|
|Jul 8, 2020||₹ 80.43||₹ 0.00|
|Jul 7, 2020||₹ 80.43||₹ 0.00|
|Jul 6, 2020||₹ 80.43||₹ 0.00|
|Jul 5, 2020||₹ 80.43||₹ 0.00|
|Jul 4, 2020||₹ 80.43||₹ 0.00|
|Jul 3, 2020||₹ 80.43||₹ 0.00|
|Jul 2, 2020||₹ 80.43||₹ 0.00|
|Highest rate in July||Rs.80.43 on July 1st|
|Lowest Rate in July||Rs.80.43 on July 1st|
|Over all performance||No Change|
|Highest rate in June||Rs.80.43 on June 29th|
|Lowest Rate in June||Rs.71.26 on June 1st|
|Over all performance||Rising|
|Highest rate in May||Rs.71.26 on May 5th|
|Lowest Rate in May||Rs.69.59 on May 1st|
|Over all performance||Rising|
|Highest rate in April||Rs.69.59 on April 1st|
|Lowest Rate in April||Rs.69.59 on April 1st|
|Over all performance||No Change|
|Highest rate in March||Rs.71.71 on March 1st|
|Lowest Rate in March||Rs.69.59 on March 16th|
|Over all performance||Falling|
|Highest rate in February||Rs.73.19 on February 1st|
|Lowest Rate in February||Rs.71.89 on February 18th|
|Over all performance||Falling|
|Highest rate in January||Rs.76.01 on January 11th|
|Lowest Rate in January||Rs.73.27 on January 31st|
|Over all performance||Falling|
Petrol prices in Delhi are now changing everyday, as against every 15 days before. We are providing daily petrol price rates, so you can check the same on goodreturns.in
The advantage of doing that is you know when to fill petrol and make maximum use of falling petrol prices. In any case Delhi petrol rates are much lower then some of the other cities in India. It also sets the trend for an increase or decrease in rates in various other cities of India. The rates would be largely determined by the largest oil marketing companies in India, that is Indian Oil, Bharat Petrolem and Hindustan Petroleum. You would do well to check the rates given the fact that if you fill same about 30 to 40 litres petrol you could tend to lose a lot. Now that petrol prices in Delhi have been dergulated like many other cities in the country.
Petrol rates in Delhi largely depend on how international prices of crude oil move. It is largely linked to international crude prices, which trade abroad. There is also an India crude basket, which largely determines the prices of Petrol in Delhi. It is always advisable to check the petrol prices, if you are planning to fill your automobile to the brim. A small change in rates can be mean a lot when you have larger volumes of diesel or petrol to fill. Diesel prices in Delhi also more or less move in a smilar way.
Lately, we have been seeing an increasing trend of petrol prices rallying in several cities. In fact, in places like Delhi they have now hit the Rs 72 per litre mark. This has happened as international prices of crude have gone higher and there is every possibility that there could be a further increase in prices.
The government has in the past cut the excise on petrol to make-up for the huge gains seen in the prices of petrol. However, any such cuts in the excise tends to impact the government's fiscal deficit.
If the trend of an increase in Delhi prices of petrol today continues, we may soon realize that rates have now hit a three year high and this is not good news for any government.
An urgent cut in the prices of the fuel is needed to be implemented by the government at the earliest.
Todays petrol prices in New Delhi are a result of a host of a factors that influence rates.
Among these include world prices of the fuel. At the moment Brent Crude prices are trading at $64. When these prices go higher, the India crude basket goes higher, which in turn alters the daily price of petrol in Delhi. A similar thing can be seen as far as diesel is concerned.
It is hence a good idea to check prices of the fuel before leaving your home. For the last few days there has been a declining trend at the retail level. Once petrol and diesel prices are bought under the ambit of the Goods and Services Tax, we may see these prices declining in the coming days. In the meantime, we would have to continue to pay the desired sum and wait for a fall in todays petrol rates in New Delhi.
Fuel rates in India depend on a host of things. Petrol prices in Delhi today depend on the India crude basket, transportation costs, value added taxes and excise duty levied by the government.
The fuel costs in the city are pretty high, though they are way lesser than what Mumbai charges. The city has one of the highest value added taxes, which has pushed petrol prices higher.
In India, when excise by the government is hiked, petrol prices in Delhi tend to increase. At the moment, excise is slightly more than Rs 21. The local government also tends to tinker with the value added tax, which tends to inflate the fuel rates.
The currency also plays a big role, in pushing the price of petrol and diesel either way. If rates tend to move in one direction heavily, the government can cut or hike rates accordingly.
Overall, it is likely that we will see sharp cuts in the prices of the fuel in the coming days. International prices have the biggest bearing and any drop in these tend to help rates cuts. Movement of the rupee against the dollar also tends to impact petrol and diesel prices accordingly.
So, for calculation of todays petrol price in Delhi one has to taken into account, excise, value added tax, India crude basket and currency movement.
The petrol prices in New Delhi were afloat despite strong gains in the crude rates in the overseas markets as the International Energy Agency (IEA) forecasted an increased demand for crude for fiscal 2020, but the prices were hit by the rally in the record number of cases in the U.S.
which crossed over 69,000 cases in a single day. The petrol rates in New Delhi were seen trading at Rs 80.43 per litre.
In the overseas markets, Brent was recorded trading at $43.24 per barrel, up by 2.10% and West Texas Intermediate (WTI) was at $40.55 per barrel, up by 2.35%.
The record rise in the number of newly infected cases in America which surpassed 69,000 numbers in its one day tally has diminished the fuel demand which in turn weighed on its prices to go down. But the IEA has raised its demand outlook for the year 2020 to 92.1 million barrels per day (bpd) up by 400,000 bpd from its outlook which was released during last month.
The recent data around the U.S. jobs data had uplifted the mood of the economy as signs of revival in the business activity for June was evident. In addition to this, the trimming down of the number of oil and natural gas rigs operating in the United States of America helped the crude rates to recover and gain over 2% during today’s trade session.
The simmering tensions between the U.S. and China have also pressurized on the fuel prices. Beijing said that it will impose reciprocal measures in response to the U.S. imposition of sanctions on Chinese officials over alleged human rights abuses against the Uighur Muslim minority.11 July 2020
The petrol prices in New Delhi traded constantly despite witnessing a fall in the crude rates in the international markets following a surge in the pandemic cases. The petrol rates in New Delhi were recorded trading at Rs 80.43 per litre.
In the global scenario, the crude benchmark – Brent stood at $42.26 per barrel, down by 0.21% and West Texas Intermediate (WTI) traded at $39.48 per barrel, down by 0.35%.
The reopening of the economy across many parts of the world had ignited hopes of a quick revival of the economy by many analysts. But the hopes were short-lived due to the mounting number of pandemic cases which has gripped a sense of fear across the markets.
The oil industry which is facing doldrums since the beginning of the coronavirus crisis owing to weak fuel demand is seeing no improvement in the situation, as the second wave of the virus has prompted local government authorities to reimpose lockdown to curtail the spread of the pandemic.
The U.S. is reporting a record number of cases since the beginning of July and 42 out of 50 states in America is witnessing a surge in the cases. The U.S. is touted as the world’s biggest fuel consumer and the rising number of cases raises concerns over the pace of recovery of fuel demand as well as economic revival.
New pandemic outbreaks in some parts of the globe have added reasons to expect a slow recovery in the coming months, notes analyst from Capital Economics.10 July 2020
The petrol prices in New Delhi were steady for the tenth straight day despite a decline in the global crude rates as the increase in the U.S. crude stockpiles and rally in the newly infected cases diminishes hopes of a speedy recovery of fuel demand. The petrol rates in New Delhi were spotted trading at Rs 80.43 per litre.
In the global markets, Brent was seen trading at $43.22 per barrel, down by 0.16% and West Texas Intermediate (WTI) was at $40.80 per barrel, down by 0.24%.
Yesterday, the Energy Information Administration (EIA) released data which showed that the U.S. Gulf Coast crude oil stockpiles grew by 5 million barrels to hit a record high last week. The refinery utilization shot up by 2% but was still lingering approximately below 17% mark as against the last year’s tally.
Meanwhile, the U.S. gasoline inventories declined by 4.8 million barrels despite a surge in its demand which hit a record 8.8 million barrels per day, marking its highest rise for the first time since March 20, 2020.
The rally in the number of newly infected coronavirus cases in the U.S. and other parts of the world has caused concern for the oil industry as experts believe that it will take more time to recover than expected for the fuel demand, leading to a downfall in its prices during today’s trade session.
The key minister of OPEC and its member countries are due to hold on talks next week to decide on the future course of crude output cuts which is set to end in July and then start dwindling.9 July 2020
The petrol prices in New Delhi were steady despite inching up of global fuel rates in today’s trade session despite a rise in the number of pandemic cases in the U.S. which is likely to thaw the swift recovery of oil markets. The petrol rates in New Delhi were seen trading at Rs 80.43 per litre.
In the overseas markets, Brent was spotted trading at $43.24 per barrel, up by 0.37% and West Texas Intermediate (WTI) was at $40.72 per barrel, up by 0.25%.
The pandemic cases in the U.S. crossed a grim milestone of over 3 million cases yesterday as many states continued to report newly infected cases making the situation grim for the oil markets to recover swiftly.
The data from the U.S. Energy Information Administration (EIA) noted that the U.S. crude oil production is likely to decline by 600,000 barrels per day (bpd) in 2020 as against the expected fall of 670,000 bpd. The EIA’s crude stock data is set to be released later today.
Meanwhile, key minister of the OPEC+ member group is set to hold talks next week about the future of the record production output cuts deal which is set to end on July 31, 2020. The oil exporters are likely to decide on the future of global crude supply for the upcoming months at a time when the pandemic cases are continuing to rise in many nations across the globe.8 July 2020
The petrol prices in New Delhi traded constantly for eight straight days in a row despite a slight dip in fuel prices in the international markets as a rising number of cases caps on growing fuel demand. The petrol rates in New Delhi were spotted trading at Rs 80.43 per litre.
In the global scenario, Brent was recorded trading at $42.98 per barrel, down by 0.28% and West Texas Intermediate (WTI) was at $40.55 per barrel, down by 0.20%.
The global crude prices which had risen today during early trade session had to decline marginally following a mounting number of cases in America which has hampered the recovery of oil demand, impacting on its prices negatively.
The WTI futures had increased by 13 cents or 0.3% to touch $40.76 per barrel after recouping a 2-cent loss from Monday’s trade session. The crude benchmark – Brent also rose by 7 cents and added 0.7% gain yesterday.
The higher than expected cuts from OPEC and other member countries are supporting the oil prices currently. Even the drawdown in the U.S. crude stockpiles which was reported during last week is cushioning the fuel prices in the global scenario.
Meanwhile, data from the American Petroleum Institute is set to be released later today and the one from the U.S. Energy Information Administration is likely to show a 100,000 barrel rise in gasoline stockpiles as per the Reuters poll estimate.7 July 2020
The petrol prices in New Delhi traded firm for the seventh straight day despite global crude posted mixed results during today’s trade session despite a surge in global pandemic cases. The petrol rates in New Delhi were recorded trading at Rs 80.43 per litre.
In the overseas markets, Brent was recorded trading at $43.05 per barrel, up by 0.58% and West Texas Intermediate (WTI) was at $40.44 per barrel, down by 0.52%.
A note from ING reveals that the market seems to be shrugging off the mounting number of newly infected cases in America and added that several affected states in America did not show a significant reduction in the road traffic levels week on week basis.
The U.S. which is the largest consumer of oil in the globe continues to hold the same position irrespective of the surge in the epidemic cases and death numbers.
Apart from this, a series of positive economic data about the revival of the economy has also lent support to the ailing oil markets which are struggling to get back to normalcy since the pandemic fears hit the global scenario, shrining the fuel demand.
The recent U.S. jobs report also uplifted the mood of the oil stocks and equities markets, prompting investors to go for riskier assets leading to rally in stock markets globally.
The Organization of the Petroleum Exporting Countries (OPEC) and its member's decision to go for deeper cuts to the tune of 9.7 million barrels are in effect throughout the July month as well.6 July 2020
The petrol prices in New Delhi traded firm for the fifth straight day despite witnessing a dip in global crude rates amidst a surge in virus-related cases mounting pressure on the oil industry. The petrol rates in New Delhi traded at Rs 80.43 per litre.
In the international markets, Brent was recorded trading at $42.80 per barrel, down by 0.79% and West Texas Intermediate (WTI) traded at $40.32 per barrel, down by 0.81%.
The rally in the newly infected cases worldwide has capped on the growing oil prices over the last couple of days. With the infected cases crossing over 50,000 numbers daily in the U.S. alone, the fuel demand is set to slump deeply despite signs of improvement in economic revival.
The strong U.S. jobs data for June has been shadowed by the alarming rise in the cases with California halting its plans to reopen the state from lockdown measures as it ordered to shut down bars and restaurants to contain the further spread of the pandemic.
Even India and China showed improvement in economic activities post reopening of the economy for June.
The efforts by OPEC and its member partners to uplift the fuel prices by trimming down the crude output to record lows helped to some extent. The OPEC’s oil production declined to its lowest in decades during June and even Russia’s oil production also dropped to near the OPEC+ target.4 July 2020
The petrol prices in New Delhi remained steady despite a decline in the global crude rates following a rise in the pandemic cases across the world which is likely to impact on the future of oil demand. The petrol rates in New Delhi were recorded trading at Rs 80.43 per litre.
In the global scenario, the crude benchmark – Brent was recorded trading at $42.86 per barrel, down by 0.65% and West Texas Intermediate (WTI) was at $40.39 per barrel, down by 0.64%.
The mounting number of cases post reopening of the economies has derailed the progress of recovery of oil demand. The crude rates which were on track with weekly gains are again witnessing fall in its prices over the last few days as fear strikes the oil industry over rising cases.
The United States of America alone reported over 50,000 cases consecutively for a record third straight day and even the California state reimpose lockdown norms and halted its earlier plans to reopen the state owing to rise in the new virus cases.
The higher than expected U.S. jobs data had supported the oil prices to soar up by more than 2% during Thursday’s trade session, with Brent gaining around 4.3% and WTI up by 5.6% for this week.
Meanwhile, the demand for gasoline in the U.S. will be closely watched as a greater number of Americans are expected to hit the roads on the upcoming holiday weekend on July 4.
The stockpiles of the U.S. gasoline USOILG=ECK rallied up by 1.2 million barrels for the week to June 26, as per the data released by the Energy Information Administration, this Wednesday.3 July 2020
The petrol prices in New Delhi stood firm despite inching down of crude rates in the overseas markets following reimposing of lockdown restriction in California state. The petrol rates in New Delhi were spotted trading at Rs 80.43 per litre.
In the international markets, Brent was recorded trading at $41.92 per barrel, down by 0.26% and West Texas Intermediate (WTI) was at $39.69 per barrel, down by 0.33%.
The mounting number of cases in the state of California has forced the local government authorities over there to reimpose lockdown restriction in the state as it rolled back its earlier plans to reopen the economy. Currently, the administrators have banned the opening of indoor restaurant dining services, bars and have beefed up social distancing norms followed by other measures to contain the spread of the pandemic which is rallying at a sharp rate.
Apart from many states in the United States of America, the pandemic cases are rising at an alarming rate in many parts of the world which has deeply hurt the crude demand leading to falling in its prices.
The data from the U.S. Energy Information Administration (EIA) had shown that the U.S. crude inventories declined by 7.2 million barrels from its record highs which it hit during last week following ramping up of production by refiners and easing imports.
This had helped the crude rates to rise during the previous session. Last week, the U.S. crude stockpiles hit a record high jolting the prices of oil in the international markets amidst rising fears of the second wave of infection, sending crude rates to depreciate.2 July 2020
The prices of petrol were unchanged in New Delhi despite slight inching up of global crude rates in the overseas markets despite a rally in the number of newly infected cases. The petrol rates in New Delhi were recorded trading at Rs 80.43 per litre.
In the global scenario, Brent was recorded trading at $41.59 per barrel, up by 0.78% and West Texas Intermediate (WTI) was at $39.57 per barrel, up by 0.76%.
After rallying for over twenty days in a row, the petrol rates in New Delhi are trading constantly since yesterday.
The uplifting of the stringent lockdown measures has mounted the number of pandemic cases in many parts of the world derailing hopes of a quicker economic revival.
Meanwhile, the U.S. crude and gasoline stocks declined more than expected last week as per the data from the American Petroleum Institute (API). Though the official data from the U.S. Energy Information Administration (EIA) is due to be released later today and this will give more clarity about the U.S. crude inventories buildup.
The improvement in factory activity in China and a drawdown in the U.S. crude inventories indicate the signs of economic recovery has uplifted the mood of the ailing oil industry which is at loggerheads since the outbreak of epidemic began in early 2020.1 July 2020